“MBTC was required to allocate approximately P4.45 billion of its capital on a consolidated basis to cover for higher operational risk,” the central bank said. ‘Business as usual’Metrobank said in a separate statement issued at the Philippine Stock Exchange that it “acknowledges” the examination concluded by the BSP on the internal fraud case. It also reiterated its assurance to the public that no customer was affected and that the case was an isolated incident. "The bank appreciates the BSP’s affirmation of MBTC’s strong financial condition, safety and soundness. The board and senior management accept accountability and command responsibility for the incident and commits to implementing the directives," it said.

Source: Philippine Star November 28, 2017 03:16 UTC